Pennsylvania Trust Co boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 1,227.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,084 shares of the Internet television network’s stock after purchasing an additional 12,098 shares during the period. Pennsylvania Trust Co’s holdings in Netflix were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Netflix by 59.3% in the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Clarfeld Financial Advisors LLC bought a new stake in Netflix in the fourth quarter worth about $27,000. Pearl River Capital LLC bought a new stake in Netflix in the fourth quarter worth about $30,000. NuWave Investment Management LLC lifted its stake in Netflix by 338.5% in the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, Citizens Financial Group Inc RI lifted its stake in Netflix by 750.0% in the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 120 shares during the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.
NFLX has been the subject of several analyst reports. BidaskClub downgraded shares of Netflix from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. SunTrust Banks reissued a “buy” rating and issued a $355.00 price objective (down previously from $410.00) on shares of Netflix in a research note on Wednesday, January 2nd. Goldman Sachs Group reissued a “conviction-buy” rating and issued a $400.00 price objective on shares of Netflix in a research note on Friday, January 4th. Barclays decreased their price objective on shares of Netflix from $430.00 to $375.00 and set an “overweight” rating for the company in a research note on Monday, January 7th. Finally, Nomura reissued a “neutral” rating and issued a $300.00 price objective on shares of Netflix in a research note on Monday, January 7th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $385.15.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. Netflix’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 3.5 earnings per share for the current fiscal year.
In related news, CEO Reed Hastings sold 67,907 shares of Netflix stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $328.17, for a total transaction of $22,285,040.19. Following the transaction, the chief executive officer now directly owns 67,907 shares of the company’s stock, valued at $22,285,040.19. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 7,607 shares of Netflix stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $360.00, for a total transaction of $2,738,520.00. Following the transaction, the director now directly owns 444 shares in the company, valued at $159,840. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,381 shares of company stock worth $64,721,327. 4.29% of the stock is currently owned by corporate insiders.
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Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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